LONDON (ShareCast) - (Sharecast News) - Idox reported a solid set of interim results for the six months ended 30 April on Thursday, with recurring revenue and earnings both advancing, underpinned by record order intake and contract wins across the public and infrastructure sectors.
Revenue rose 4% year-on-year to £45m, with recurring revenue up 9% to £29.8m, now accounting for two-thirds of total income.

Adjusted EBITDA increased 6% to £13.9m, with margins improving to 31%.

Statutory operating profit climbed 14% to £6.4m, while adjusted diluted earnings per share rose 17% to 1.48p.

Free cash flow improved to £13.6m, with strong conversion from adjusted EBITDA.

Idox said it ended the period with net cash of £0.2m, having moved from a net debt position of £6.6m a year earlier.

The company said it secured a record £58.7m in order intake during the half, up 9%, enhancing revenue visibility into the second half and beyond.

Contract wins included North Yorkshire Council, Swansea Council, the Welsh Government, and Pacificorp.

The group also recorded further progress in its geospatial business, with Vodafone among new clients.

Post-period, Idox acquired Plianz, a health and social care software firm, for £7.65m in cash, while continuing to assess further acquisition opportunities.

It said its growing India hub in Pune now employed over 100 staff, supporting global delivery and scalability.

The company said trading remained in line with expectations, adding that it intended to pay a final dividend in accordance with its stated policy.

"Idox has delivered a good financial performance in the first half of 2025 in line with the board's expectations, with increased total revenue, recurring revenue, profitability and cash generation, putting the group in its strongest position ever," said chief executive officer David Meaden.

"A clear focus on, and a deep understanding of the markets we serve, continues to provide us with excellent opportunities to support new and existing customers.

"The breadth and depth of our services delivered via our outstanding people offers further opportunities for organic growth."

Meaden said the company had a proven track record of identifying, acquiring and integrating strategic assets into Idox and were pleased to complete the acquisition of Plianz shortly after the period end to strengthen its existing health and social care offering.

"Our merger and acquisition pipeline remains healthy, and we remain confident of adding to our existing portfolio of specialist software and geospatial data solutions to deliver further profitable growth.

"We are pleased with the progress made and positive momentum meaning the Group is well positioned to deliver on our full-year expectations."

At 1218 BST, shares in Idox were up 0.83% at 60.3p.

Reporting by Josh White for Sharecast.com.

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